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Share Name Share Symbol Market Type Share ISIN Share Description
Konami Holdings Corporation LSE:KNM London Ordinary Share JP3300200007 JPY50
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 5,923.225 100 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Leisure Goods 262,144.0 17,122.0 113.6 5,214.1 849,983

Konami Holdings Corporation Difference b/w Results for FY21 & FY20, and others

13/05/2021 8:50am

UK Regulatory (RNS & others)


TIDMKNM

RNS Number : 5216Y

Konami Holdings Corporation

13 May 2021

 
                                               May 13, 2021 
 
 FOR IMMEDIATE RELEASE 
                    KONAMI HOLDINGS CORPORATION 
                    Kimihiko Higashio, Representative 
                     Director, President 
   Shares listed:   Tokyo and London Stock Exchanges 
 
         Contact:   Junichi Motobayashi, Corporate Officer, 
                     General Manager, Finance Division 
             Tel:   +81-3-6636-0573 
 
 
 News Release: Notice Regarding Difference between Consolidated 
                             Results 
 for the Fiscal Year Ended March 31, 2021 and 2020, Recording of 
 Impairment Loss and Loss on Valuation of Shares of Subsidiaries 
                       (Non-Consolidated) 
 

KONAMI HOLDINGS CORPORATION (the "Company") had not disclosed consolidated earnings forecast for the fiscal year ended March 31, 2021, however, difference between the consolidated results for the fiscal year ended March 31, 2021 and 2020 meet the Timely Disclosure Rules. The Company hereby announces the difference resulted from increases in revenues and profits, despite of the impact of coronavirus outbreak, as follows.

In addition, the Company hereby announces recording of impairment loss on a consolidated basis and loss on valuation of shares of subsidiaries on a non-consolidated basis for the fiscal year ended March 31, 2021.

   1.    Difference between the Consolidated Results for the Fiscal Year Ended March 31, 2021 and 2020 
 
                                                                              (Millions of yen, except percentages) 
              ----------- 
                    Revenue    Business  Operating  Profit before  Profit for  Profit attributable  Basic earnings 
                                profit     Profit    income taxes   the year        to owners          per share 
                                                                                  of the parent      (attributable 
                                                                                                       to owners 
                                                                                                     of the parent) 
                                                                                                         (yen) 
                   ----------  --------  ---------  -------------  ----------  -------------------  --------------- 
  Year ended 
   March 31, 
   2020 (A)           262,810    44,297     30,972         30,395      19,897               19,892           147.26 
                   ----------  --------  ---------  -------------  ----------  -------------------  --------------- 
  Year ended 
   March 31, 
   2021 (B)           272,656    64,164     36,550         35,581      32,274               32,261           242.17 
                   ----------  --------  ---------  -------------  ----------  -------------------  --------------- 
  Change (B 
   - A)                 9,846    19,867      5,578          5,186      12,377               12,369           ****** 
                   ----------  --------  ---------  -------------  ----------  -------------------  --------------- 
  Percentage 
   Change (%)             3.7      44.8       18.0           17.1        62.2         62.2                   ****** 
                   ----------  --------  ---------  -------------  ----------  -------------------  --------------- 
 
 

Reason for the difference

Revenues of some business segments were impacted from temporal closures to prevent the coronavirus outbreak as well as world-wide economic slowdown, however, strong performance of products and services in the Digital Entertainment business including mobile games, computer and video games and card games led to consolidated results for the fiscal year ended March 31, 2021 that exceeded consolidated results for the fiscal year ended March 31, 2020.

   2.    Recording of impairment loss 

The company assessed the recoverability of assets which was impacted from decrease in revenues due to the temporal closure of both directly managed sports clubs and outsourced facilities and shortened business hours in line with state-of-emergency declaration from government and business suspension request from local governments, moreover, from prolonged coronavirus outbreak. As a result, impairment loss of Y18,717 million for property, plant and equipment and trademarks was recorded since the recoverable amount fell below the carrying amount.

   3.    Loss on valuation of shares of subsidiaries (Non-consolidated) 

As for the shares of Konami Sports Co., Ltd., a consolidated subsidiary of the Company, loss on valuation of shares of subsidiaries of Y48,424 million was recorded as extraordinary losses for the year ended March 31, 2021 on a non-consolidated basis, considering decrease in net assets of Konami Sports Co., Ltd. that was impacted from coronavirus outbreak.

The loss on valuation of shares of subsidiaries was recorded in non-consolidated financial statements only, and was eliminated in consolidation.

End

Cautionary statement with respect to forward-looking statements and other matters:

Statements made in this document with respect to our current plans, estimates, strategies and beliefs, including the above forecasts, are forward-looking statements about our future performance. These statements are based on management's assumptions and beliefs in light of information currently available to it and, therefore, you should not place undue reliance on them. A number of important factors could cause actual results to be materially different from and worse than those discussed in forward-looking statements. Such factors include, but are not limited to: (i) changes in economic conditions affecting our operations; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar and the Euro; (iii) our ability to continue to win acceptance of our products, which are offered in highly competitive markets characterized by the continuous introduction of new products, rapid developments in technology and subjective and changing consumer preferences; (iv) the timing of the release of new game titles and products, especially game titles and products that are part of historically popular series; (v) our ability to successfully expand internationally with a focus on our Digital Entertainment, Amusement, and Gaming & Systems businesses; (vi) our ability to successfully expand the scope of our business and broaden our customer base through our Sports business; (vii) regulatory developments and changes and our ability to respond and adapt to those changes; (viii) our expectations with regard to further acquisitions and the integration of any companies we may acquire; and (ix) the outcome of existing contingencies.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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May 13, 2021 03:50 ET (07:50 GMT)

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